Frequently Asked Questions

Can foreigners legally buy property in Guam?

Yes, foreigners can legally buy property in Guam. There are no restrictions on foreign ownership of land or real estate.

Do I need a special structure like a trust or corporation to buy property in Guam?

No, there is no special structure like a trust or corporation required to buy property in Guam. An individual can purchase property directly.

Do I own the property outright as a foreigner in Guam?

Yes, as a foreigner, you can own the property outright in Guam. There are no restrictions on the extent of ownership for foreigners.

What are the closing costs and taxes when buying property in Guam?

Closing costs in Guam typically include fees for escrow, title insurance, and legal fees. The exact amount can vary, but it is typically around 3-5% of the purchase price. There is also a 4% transfer tax on the purchase price.

Do I need to hire a lawyer when buying property in Guam?

While it's not mandatory, it's recommended to hire a lawyer when buying property in Guam. A lawyer can guide you through the legal process and ensure that all documents are correctly prepared and filed.

Can I get a mortgage in Guam as a foreigner?

Yes, foreigners can get a mortgage in Guam. However, the requirements may be more stringent and the interest rates may be higher than for residents.

Are there annual property taxes in Guam?

Yes, there are annual property taxes in Guam. The tax rate is 7% of the assessed value of the property.

Can I rent out my property in Guam for income?

Yes, you can rent out your property in Guam for income. There are no restrictions on renting out property to tenants.

Is the buying process safe and transparent in Guam?

Yes, the property buying process in Guam is generally considered safe and transparent. The government has strict regulations in place to protect buyers and sellers.

Do I get residency or visa benefits by buying property in Guam?

Buying property in Guam does not automatically grant you residency or visa benefits. However, it could potentially help in your application for a long-term visa. It's best to consult with an immigration lawyer for specific advice.